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CNBC
Dec 28, 2012 3:00pm EST
will join us next live with his fears of what happens if a fiscal cliff deal does not get done and fast. >> i'm the founder and ceo of unilife corp rage. if the fiscal cliff issue doesn't get resolved, there's no question the usa economy is going to go into recession. we closed down our manufacturing in china and relocated our manufacturing to the usa. for other companies to consider following our lead, they need to trust that our leaders in washington will actually lead. think outside the box. create incentive for businesses to invest in the u.s. economy. tdd# 1-800-345-2550 you should've seen me today. tdd# 1-800-345-2550 when the spx crossed above its 50-day moving average, tdd# 1-800-345-2550 i saw the trend. tdd# 1-800-345-2550 it looked really strong. tdd# 1-800-345-2550 and i jumped right on it. tdd# 1-800-345-2550 tdd# 1-800-345-2550 since i've switched to charles schwab... tdd# 1-800-345-2550 ...i've been finding opportunities like this tdd# 1-800-345-2550 a lot more easily. tdd# 1-800-345-2550 like today, tdd# 1-800-345-2550 i was using their streetsmart edge trading platform
CNBC
Dec 31, 2012 3:00pm EST
the fiscal cliff if we get this deal. does he like it or not? he'll join us coming up. much more to come. don't go anywhere. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and call your doctor right away. tell you
CNBC
Dec 26, 2012 5:00am EST
sandy and we're dealing with the fiscal cliff, as well. what do you think the big driver was of these slower growth numbers? >> well, good morning. yes, you hit on two of the big ones. really the season tripped coming out of the starting gate with hurricane sandy. the impact in the northeast and mid-atlantic, both those regions of the country actually had negative holiday seasons for the holiday-related sectors that we track. other areas of the country that were not impacted by significant weather in the southeast, south central, mountain and west, were up 2% to 4% year over year. so really depended on where you were in the country, how but during the holiday season. >> okay. that's definitely interesting to look at, the regional breakdown. i also want to talk about promotions. every year we see the promotions start, it seems, earlier, and discounts are a little deeper. at the end of the day when we're tabulating these numbers, are deep discounts really the way to go, or does it end up hurting the retailers in the end? >> i think a couple of events, the weakness in the fi
CNBC
Dec 28, 2012 7:00pm EST
in washington. there's no deal, no new offer on the fiscal cliff crisis. president obama has just told the two senate leaders they should make the deal. the results immediately felt in the financial markets. look where the dow closed down 158 points when it became very clear nothing was happening and now take a look at where the numbers are in the after markets. we would open now down 315 points on the dow if we started trading now. down 315 points. we have much more on this throughout the rest of the program, but the market's very unhappy. we do have some good news to report tonight. looks like at least one cliff has been averted for the time being. the so-called container cliff. the union that represents dock workers and u.s. maritime lines came to an agreement today to extend their current contract for 30 days. this is a big relief now for the retail industry and consumers who were staring at real destruction again for the supply chain. here now is jonathan gold and he's vice president of supply chain and customs policy for the national retail federation. jonathan, good to see you. >> miche
CNBC
Dec 26, 2012 4:00pm EST
. there are only three trading days left now for 2012 and still no deal to avoid going over the fiscal cliff. all signs are pointing to more talks for lawmakers to try to hash things out. should wall street bet on a fix before january the 1st or is that wishful thinking? >> let's find out. let's speak to our guests. welcome to all of you. brian, where do you make of where we're going right now? you're the one that remains sort of neutral. you're buying this market right now, aren't you? >> well, we're pretty much staying put. we're recommending that our clients have a substantial allocation to equities. i mean, bear in mind, it's been a pretty good year despite it being an election year, despite the fiscal cliff and ongoing problems in europe. the market has done better than it has usual done. what's changed? i think there will be continued political turmoil and slow growth but that's, particularly given valuations, may not be a bad year for equities as all. >> i'm going to add to that list having been a good year for the stock market. also had a lot of recovery in the housing market as well. do
CNBC
Dec 30, 2012 7:30pm EST
's not been great so far. it will matter quite a bit whether or not they are able to get a fiscal cliff deal done in the near future. somebody clears the decks to do other things, things that might not be quite as either controversial or may not matter as much to the economy. so if you have a long fight over immigration, that's not a great thing but it's better than having a fight that leads to a debt ceiling default. the question is whether or not they are able to move past this in a way that allows for making agreements going forward or whether or not we end up in the essentially endless series of smaller fiscal cliffs this year. things get pushed forward for two weeks, two months, three months at a time and another debt ceiling in early 2013. if that's the case, there's going to be a lot more uncertainty and the structure will be there a lot more, very angry, a lot more tense, a lot more bitter, 11th hour negotiations going forward. >> mike, what sectors or areas are you watching in 2013? >> i think what's interesting is that the housing revival has obviously been embraced by wall street.
CNBC
Dec 24, 2012 12:00pm EST
if the president won there was going to be these issues we're dealing with referred to as the fiscal cliff. if mitt romney would have won probably not so much. >> probably not so much. >> the market has dealt with it. >> you're right. >> we are still talking about the same dysfunctional congress no matter who was in the white house though. >> exactly. i guess it all decides on which side of the dysfunctional aisle you sit on. >> thanks so much, guys. have a happy holiday everybody. thank you very much. we'll see you soon. we have 50 minutes before the closing bell sounds for the day and we got a market that is worsening going into the close. down about 53 points on the dow industrials. >> we seem to be at a fiscal cliff stalemate but it is not keeping lawmakers on either side of the aisle quiet. when we come back we go live to washington for the latest and hear from one republican congressman on where he is willing to compromise at all. >> as last-minute christmas gift orders pour into online retailers which is better off, amazon or best buy? coming up we'll look at both stocks and which you may wa
CNBC
Dec 27, 2012 9:00am EST
and raises the stakes for the fiscal cliff end game because the white house had wanted a debt ceiling deal as part of the overall deal here on the fiscal cliff. republicans have been resisting that by announcing the debt ceiling limit will be held on monday, ratchets up the pressure to include the debt ceiling piece in the final package, whatever that may be, but still not clear, carl, there is going to be a final package of any kind. one quick note, we saw the realism. pact in the real world of the debt situation. treasury announcing yesterday it has suspended the sale of state and local government securities, government series securities. so already, they are doing some maneuvering here financially to try to avoid that debtly limit. the treasury secretary says he doesn't know how much wiggle room they are going to have, given that all the fiscal cliff uncertainty is out there. >> eamon, on this idea that the house members get called back with 48 hours' notice. traders are looking for that headline if it happens almost that bleed out there or procedural moment where that is announced, so
CNBC
Dec 26, 2012 3:00pm EST
freeze or maybe the layoffs if a fiscal cliff deal was not reached. still no deal as we stand. only a few days to go. are you actually planning a hiring freeze or layoffs? >> i think every business man plans the fall part of the year, particularly if they are on a calendar fiscal year. we put "x" percent of our budget at risk with a contingency just in case things go bad in the economy. >> what percentage is that now? >> i don't want to tip off to the street what our -- what our plan is, but what i will say is that we have doubled our contingency this year which puts in a set of action plans that we act on depending on what happens in the economy. so we pull back on cap "x" and gain cap "x" and we include head count. >> us a well know, mark, we've had a whole parade of ceos like you who tell us the very same story. we're waiting. what are you waiting for? what would you like to see from washington that gets to you unleash that cap "x" and other things? >> the best deal would be a big deal. >> you want a grand bargain? >> i mean, americans don't want plan "b." they don't want a short-term
CNBC
Dec 31, 2012 6:00am EST
talking about all this. as we said, we are about to go over the fiscal cliff. if a deal is not reached to avoid the fiscal cli by january 2nd, automatic domestic and military spending cuts will kick in and the pentagon will be forced to cut $9 million in spending. >> if lawmakers can't avoid the fiscal cliff, they may be able to avoid a different cliff, the dairy cliff. house and senate members appear likely to extend farm legislation for a year, a deal that would keep milk prices skyrocketing in january. we were worried about $6 gallon of milk. it could keep a decades old subsidy from coming back to life. the usda would be forced to buy milk at prices well above what farmers were getting now if the subsidy was revived. it could double the price of moib to $6.12 a gallon. >> markets have been reacting to each move on capitol hill, but obviously, things at this point are looking like the dow would open down by about 7.5 points. the dow is off 67 points and the nasdaq is down 14.75 points. all the surprised given the late hour that -- >> even if something doesn't happen today, it happens
CNBC
Dec 26, 2012 1:00pm EST
his annual vacation in hawaii to deal with the fiscal cliff. no sight of congressional leaders. they're not in town. investors getting a little bit nervous. will congress get it together in time? no talks that we know of are imminent. it was by at least one measure, the weakest holiday retail sales growth since the financial crisis back in 2008, but could a post-christmas holiday sales bounce be around the corner? >>> and what a year it has been for tech. gadgets and gizmos. apple, facebook, microsoft all have big news. will 2013 be a lucky year for the sector? which tech titans might lead the new trends? simon hobbs is in at the new york stock exchange. >> good afternoon. when president obama arrives back in d.c., can he prevent america falling over the fiscal cliff? house republicans haven't yet called their members back to washington. our chief political correspondent, john harwood, is with us. john, this feels very much like it might be the calm before the storm in more way than one. >> it could be if we go over the cliff and the storm would be generated by the markets and the lo
CNBC
Dec 28, 2012 6:00am EST
and senate today. can the fiscal cliff deal be reached? we're going to astrategists fro both sides of the aisle. plus, we're going to welcome a man who knows the world of washington and wall street very well. the great grandson of the 27th president and leading financial ceo in his own right, john taft is going to be our guest host. n] you are a business pro. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. >>> it's getting down to the wire. >> republicans have bent over backwards. >> we're in the name situation we've been in for a long time. >> america heads closer to the edge of the fiscal cliff. how businesses are bracing for the worst, and what it means for your money. >> and could the looming trouble at the capitol be the right time to buy? >> i love gold! >> why gold
CNBC
Dec 27, 2012 5:00pm EST
in another attempt to agree on a fiscal cliff deal. amon j eamon jav everyoers has the sto. >> i'm keeping an eye on my iphone here, i just got an e-mail from a source that says there might be even further news this evening, so, waiting for a status update on that. but we did get some news today and that news, as you say, was that the house of representatives is going to be called back early. they are coming back on sunday at 6:30 p.m. what they're going to do when they get here, we don't have any idea. but we had a fascinating series of dueling press conferences, dueling floor speeches, i should say, by senate republican and democratic leaders. the republican leader, mitch mcconnell, really put the blame on democrats, but he did seem to indicate that there may be further negotiations that are ongoing here, possibly even as we speak. take a listen to mitch mcconnell earlier this afternoon. >> the truth is, we're coming up against a hard deadline here and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate
CNBC
Dec 27, 2012 4:00am EST
today with little progress seen on a deal to avoid the fiscal cliff. meanwhile, the government starts taking steps to buy more time before the u.s. hits the debt ceiling. the yen is hitting a two-year low against the dollar as the new japanese battle vows to lower deflation. exports rise pushing the nikkei to its strongest gain in seven years. >>> and shares in toyota trading higher after the japanese carmaker settles a major u.s. class action lawsuit. it said the $1 billion payment is already priced in. >>> treasury secretary tim geithner says the u.s. will hit the $16.4 trillion debt ceiling on monday. in a letter to congressional leaders, geithner says treasury will begin taking steps to save the government about $200 billion and hopefully delay a potential default until sometime in february. geithner says it's harder to predict the time frame because of the ongoing fiscal cliff talks. and among the measures treasury will take include halting investments in the federal government's employee pension fund. not necessarily great moves there. president obama arrives back in washington
CNBC
Dec 26, 2012 7:00pm EST
left in 2012. no fiscal cliff dealing in sight. now we are talking about hitting the debt ceiling on december 31. what are the top trades for 2013? cnbc contributor michael farr. good to see you. great to have you here. >> thanks, michelle. wonderful to be with you. >> have you heard about what timothy geithner said tonight? >> you are way better looking than kudlow. i know you heard that. this is a much better screen to look at from our glide flattery will get you everywhere. did you hear secretary geithner sent out a note saying that -- letter, official letter saying we are going to hit the debt ceiling monday. lee business days notice. >> perfect. >> what will that do to the markets tomorrow? >> you and i talked about this is a couple of years ago when we hit hit it in july and i was dead wrong. i was entirely dead wrong. i thought congress would make sure we wouldn't lose our aaa debt rate. >> and we did. >> and -- yeah. i figured certainly logically that yields would go up on bonds. and that the stock market would fall and just the opposite happening. what happen this time to
CNBC
Dec 27, 2012 7:00pm EST
for sunday night. that stokes investor hopes for a fiscal cliff deal and this coming just a few hours after harry reid's comments sent the dow into a tailspin. we have complete coverage in this developing story which is happening tonight as we speak. also, as supplies from the obama team, ep achieve lisa jackson stepping down. can the coal companies finally breathe a sigh of relief? guess what happened in britain when the uk banned handguns. the surprising result that could change the gun control debate. "the kudlow report" start ises right now. >>> the big news tonight, still the developments in washington on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, i
CNBC
Dec 24, 2012 9:00am EST
on vacation. washington lawmakers are on holiday. there's still no deal to avoid the fiscal cliff. the deadline is a week away. hampton pearson is in washington on the stalemate. >> as early as the day after christmas, congress and the white house will have to start to deal with what president obama called the real consequences of going over that fiscal cliff. >> nobody can get 100% of what they want. and this is not simply a contest between parties in terms of who looks good and who doesn't. there are real world consequences to what we do here. >> a short-term deal won't just focus on tax rates. the end of the payroll tax cut and the impact of the hike in the minimum tax on january 1st. over the weekend, we did hear from some republican moderates who say it may in fact be time to make some kind of a move. >> the president's statement is right, no one wants taxes to go up on the middle class. i don't want them to go up on anybody. but i'm not in the majority in the united states senate and he's the president of the united states. >> now the focus shifted to mitch mcconnell. the se
CNBC
Dec 31, 2012 4:00am EST
that the sh we're dealing with right now in the fiscal cliff is a prime example of it. what i'm arguing for are maintaining tax cuts for 98% of americans. i don't think anybody would consider that some liberal, left wing agenda. it used to be considered a mainstream agenda. and it's something we can accomplish today if we simply allow for a vote in the senate and in the house to get it done. the fact that it's not happening is ancation of, you know, how far certain factions inside the republican party have gone where they can't even accept what used to be centrist mainstream positions on these issues. i'm an optimist. we try every other option before we finally do the right thing. after everything else is exhausted, we eventually do the right thing. and i think that's true for congress, as well. and i think it's important for americans to remember politics have always been messy. people have been asking me a lot about the film "lincoln" and -- >> is this your lincoln moment? >> well, no. look, i never compare myself to lincoln and, b, the magnitude of the issues are quite different from
CNBC
Dec 31, 2012 1:00pm EST
the tax portion of the fiscal cliff. but simon, we still have to deal with the issue in terms of the budget cuts for defense. that would mean 10%. back to you. >> okay, thank you very much. >>> let's remind everybody, we are waiting for president obama to speak at that podium at the white house in about 9 minutes time. our own john harwood adding to the optimism by suggesting they have agreed on levels of 39.6% tax would kick in at 400,000 for a single person, $450,000 for a family. we will wait and see what obama is able to tell us at that news conference in 8 minutes time. the u.s. is now on the edge of the fiscal cliff. hours to go until the deadline and as we get closer in theory, the pentagon is getting ready to layoff quite literally thousands of employees because of the automatic spending cuts that go into effect if no deal is reached in d.c. at midnight. we have more on that fall out, hunter? >> how you doing simon? ? yes, just to flush out a little bit of what ber that was talking about, is delaying the spending cuts, down to the wire of the fiscal cliff negotiations.
CNBC
Dec 26, 2012 6:00am EST
. >>> okay, coming up, deal or no deal? that's the question. we're going to talk fiscal cliff expectations and what d.c. negotiations could mean for the final few trading days of 2012 when we return. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... and you wouldn't have it any other way.e. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently.
CNBC
Dec 26, 2012 12:00pm EST
is going to be in the cyclical stocks if you get a deal on the fiscal cliff. if not, then retail goes worse. we analyzed this last week and said there's big drag. >> so, doc, is the trade the prudent trade you have to take some money off the table in the retail space? the consumer, the data has shown to be good and then you get holiday numbers from master card that say we're only up .7%. >> i'll take any gains we can get. the fact that we're just about flat is a positive for me. obviously there's a pretty significant rotation and people are selling today in these retail names. you can see that because the volumes are pathetically low on the rest of the street. about 50% of normal activity so far to date whether it's options or stock or even futures. but this particular sector you look at the stocks, whether it's tiffany's, coach, or abercrombie & fitch, all of them are nearly trading full session volumes. they're certainly on track for that. it's the only sector in the market that is. there are other sectors that are moving, but you're not seeing any real dollars being exchanged back and fo
CNBC
Dec 24, 2012 5:00am EST
down there as investors start to price in the deal of not getting a deal struck on the fiscal cliff. sentiment hasn't improved over the weekend. >> no, it hasn't. but time to buy europe, according to the barons magazine. european stocks could rally by as much as 20% next year. in its cover story this weekend, the investor bible has picked ten stocks that it stays are undervalued, minimum downsize risk and they provide decent dividends, as well. on the list are vw volkswagen, rio tinto, rush and wpp. on the also on the list, we have deutsche plus, vivende, axa and enagas. >> it's tough to know whether to buy the handbag or the stocks from lvmh before the christmas. >> i suspect if there are any husbands out there, they would put a stock of lvmh under the tree, i'm not sure if jewelry would be equal. >> we've been asking the economist toes give us their outlook for 2013. >> do you think the u.s. is going to continue to be strong? if they can solve the fiscal cliff issues, keep economic indicators up. what they're doing with the jobs is good, asset performance is good. asia, it's going
CNBC
Dec 27, 2012 4:00pm EST
cliff. no deal yet but we're getting lots of mixed messages. >> that's a good way to put it. >> mixed messages around washington today with some animosi animosity, but here's what senate majority leader harry reid had to say just a little while ago. listen. >> i say to the speaker take the escape hatch that we've left you. put the economic fate of the nation ahead of your own fate as speaker of the house. millions of middle class families are nervously watching, waiting and counting down the moment until our taxes go up. >> well, senator kay bailey hutchison is republican from texas, first elected back in 1993 and served in leadership positions and been an outspoken nor to the budget and defense. senator, great to have you with us here. >> we sure are going to miss you, one of the great group of moderates. >> maybe you're relieved to be leaving at this point. >> thinking of new year's eve here in washington and thinking, you know, this is the time to exit. >> go out while things get a little mess over there. how will you feeling after the variousade lines toit about getting things don
CNBC
Dec 26, 2012 9:00am EST
vacation to deal with the fiscal cliff, just five days to go until we go over. >> threatening both coasts with workers snubbing up best and final contract offer. >> and more on the home front. we'll have more on the data and whether it can keep one of the best performing sectors of 2012, home builders going in 2013. >> data showing what some experts say is the slowest growth in spending since the 2008 recession. according to mastercard, spending polls units through christmas eve, retail sales rose just .7% from the year before. the national retail federation says it is forecasting a 4% jump in sales. we'll continue to get trickles of data as we progress through this last week. it is still an important week, the final week before the new year in terms of retail sales for these guys. >> historically positive the last five days of the year and blends into the first couple of days of the new year. generally get a nice year-end effect. we'll get claims tomorrow. new home sales tomorrow. chicago pmi on friday. but this idea that retail is soft, was it the fiscal cliff? was it sandy? was it some
CNBC
Dec 31, 2012 9:00am EST
people who would lose about $300 a week if this fiscal cliff passes and there's no deal whatsoever. guys, back to you in d.c. >> all right. john harward, thanks for keeping us posted. we're about six minutes before the bell rings in the final session of 2012. let's bring in matt. good to have you with us. the futures are not too bad. we're coming off five straight losing streaks. on friday we saw the vix post the low of the session. what do you think it will happen today? >> i'm not going to put a lot of credence in the futures this morning. i think that's out of the picture for a lot of people. they didn't really notice it because it happened after the close. we're really not going to put any credence in it downstairs today. obviously everything has to do with what they're going to negotiate starting at 10:00. funny thing is, why 10:00? why are we waiting so long? this is a question that everyone has down here, and everyone has across the country. >> you guys are in here at 7:00 a.m. >> yeah, why not start then? this is an important issue. obviously this is the only issue right now for
CNBC
Dec 24, 2012 4:00am EST
in fiscal cliff that we're talking about that should come in the beginning of february when voters realize how much smaller their paychecks are and mgm is having a year end clearance sale at the citi center property. monetizing. monetizing. then there's the balance sheet. this may be the single most important point of the story. when jim took over mgm's balance sheet was hideous. it was just awful. in 2009 the company was in vital of its debt covenants. mgm had to pay down debt by selling treasure island, one of my favorite casinos, for $775 million. the company was given time to get its house in order. fast forward to earlier this month. mgm announced 4.8 billion refinance of debt. the company is paying sdoun its inner secured notes. they replaced it with new lower rate senior notes and term limits. this is what you really look for. this is a huge, huge deal. okay. for caesar's i want to buy bonds but here i want to buy the common. mgm stock popped on the news of the refi. i think it puts a floor in the stock at ten and two bucks below where it is right now and they should pay $4 billion
CNBC
Dec 28, 2012 5:00pm EST
, this is a disaster. because even if there is a deal, technically avoids going over the fiscal cliff, stops all the other stuff from happening. it's a disaster because we had seven weeks to do a big deal, which would have reassured the markets, the world, that we could function as a government and make important compromises that we could take shared pain as well as shared sacrifices and all we've done even if we get out of this by december 31, we kicked the can down the road to another day where we'll have to face the harsh realities that you can't always get what you want. we democrats are going to have to accept significant entitlement reform, some of which is needed to preserve the programs we hold dear. republicans are going to have to accept 1$1.2 or three trillion n new revenue. the numbers have to add up, so we can get down to a reasonable percentage of gross national product. >> governor, when you watch these politicians on both sides of the aisle for that matter, take to the cent floor, point fingers, then we have this meeting where nothing has been done, how frustrating is this and is
CNBC
Dec 24, 2012 6:00am EST
strategists join forces to deal with the major sticking points on the fiscal cliff negotiations. find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... [ all ] i'm with scottrade. >>> fiscal cliff talks heading into the 11th hour. >> u.s. economy is at stake here. >> you cannot pass a bill with just republicans. on a broad thing like this, you need both. >> but will anyone rise above and get it done? a debate from both sides of the aisle. plus guest host jason trennert on the impact for the markets. >> the final details on retail. the winners and losers as last-minute shoppers make one final rush to get the latest deals. >> i got it. i got it. >> the second hour of "squawk box" starts right now. ♪ chestnuts roasting on an open fire. jack frast nipping at your nose. yul
CNBC
Dec 27, 2012 3:00pm EST
to help avoid the fiscal cliff. >> back to you very much, mary. four more days to the deadline. can a deal get done. congressman harris joining us now from baltimore. i'm going to talk about your plan in a moment, sir, but let me ask you about the word that we got in the last hour about the house reconvening sunday night. can you shed some light on any significance that may have. what have you heard? should we get our hopes up for sunday evening, or not? >> just got a conference call an hour ago with the speakership and leadership and that's only to get ready for anything coming over to the senate. the senate usually takes a couple of days to pass a bill. haven't even started working on one so the earliest they could have something over to the house would be sunday and the leadership will give its members 48 hours notice tomorrow and get us back in town sunday night. >> are you hearing that the senate's working on something that could come your way by then? >> there's a rumor that the president has taken mrmr. boehne mr. boehner's plan "b" and added unemployment insurance. i'm sure the sen
CNBC
Dec 31, 2012 4:00pm EST
this talk about fiscal cliff is mostly hooey. the truth is, this isn't a big deal. i heard somebody on this program lamenting how dramatic it is to fall over the cliff, it's not true. it's a slope. >> you think we is can have a good 2013, in terms of growth? >> i think we are. but it sure would be better to give the investment community that we're seriously going to do something about the deficit. >> thanks, howard. happy new year. >> to you guys. >> thank you. >>> what a difference a day makes, right bill? >> yes, indeed. smaller paychecks, higher taxes could be in our futures after midnight tonight. a quick summary of what may and will change by going over the cliff is coming up next. ♪ [ male announcer ] how could a luminous protein in jellyfish, impact life expectancy in the u.s., real estate in hong kong, and the optics industry in germany? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prosp
CNBC
Dec 31, 2012 7:00pm EST
on this so called fiscal cliff. i'm going to bring in the republican from the great state of caps cannes. always great to have you on the show. first of all, will the majority of republicans vote for this deal even though i'm not sure what the deal is on the sequester side? >> is there is an interest of solving the problem i think what you said is how most republican ares feel. we need to know the details of the deal and i'm on the side if it is going to be postponed it is going to be paid for by reduced spending elsewhere. that is the wrong direction to go. so while there is an interest and believe that we are getting close to a deal, there is yet enough unknown that you can't answer your question at this time. >> it troubles me, if you run off the sequester and run off the tax revenues to make up the difference which is what the president said today in his goofy press conference. if that happens, i want to ask you if this thing can actually pass. too quick, 51 votes and 60 votes and democrats and republican ares can the two come together? is that how it might work? >> my guess is that
CNBC
Dec 28, 2012 1:00pm EST
on a deal, a mini deal is what traders are expecting now to avoid going over the fiscal cliff. basically we've been held in about 100 point range from the dow. it is midpoint. as you might expect on the second to last trading day, volume is light. 1 billion shares changed hands. on average we get about 3.2 billion every day. take a look at the vix. it's a measure of fear. yesterday popping above the 20 level. it is something we haven't seen in five months. it is above that right now but, again, it has come off its highs of the day. we do have some movement in the transports today, this in the wake of the news of that port strike has been averted, at least for another 30 days. that was impacting some of the truckers because there was concerns they wouldn't have some inventory to truck around the country. they've turned around and transports actually having retreated yesterday. they did move into the green a little while ago. also look at the consumer discretion nar ris because this is reflecting reaction to the news. strike has been averted as well. keep in mind there are a number of retaile
CNBC
Dec 27, 2012 12:00pm EST
it is not done dealing with. i don't think it's a good time. we're going over the fiscal cliff but shortly there after, gold is going. long term i want gold but short term not so much. >> now you know what these guys think. what about you? if we do go over the cliff, would gold go higher or lower. tell us. sean egan tells us if going over the cliff would mean a slash in the credit rating and ralph acampora, two shows, 1:00 p.m. >> we'll catch you at the top of the hour. give me a target for gold next year. it's at $1660. are we going substantially higher or towards 15? are not and gold and silver has had every reason to move higher in the fourth quarter in 2012. it has not. i think the love affair hedge funds have had with gold is over and view 2013 is the year gold will finally under-perform. >>> coming up, delta's flight status, can it continue its flying stock market run into the new year, one stock, two opinions. we debate it. >>> home prices on track positive for the first time since 2006. which real estate stocks are traders banking on now? >>> japanese stocks trading on highs as the
CNBC
Dec 26, 2012 5:00pm EST
by the fiscal cliff. my guess is, in past decembers, they have not that kind of thing to deal with in the way we do right now. >> president comes back to washington, he'll get on a flight in just a couple of hours, we'll be back at 7:00 east coast time in washington tomorrow, assuming the weather allows air force one to get through all of that. in many teen time. and then, presumably, maybe some of the negotiations can get back on track at that time. in the meantime, the dow down 24 points today. that's it for us. thank you for watching. >> and "fast money" starts right now. stay tuned to cnbc. >> we'll see you tomorrow. >>> live from the nasdaq market site in new york city's time square, i'm melissa lee. here are tonight's top three trades. retail wreck. santa delivered coal for most today. should you be betting on a bounce back? the global race to print money is on. and we've got the best ways to play japan's easy money. and 2013 trades. top picks in an uncertain world also "fast money" goes fast forward into next year. first, to our top stories. five days to go until the fiscal cliff and the
CNBC
Dec 27, 2012 6:00pm EST
of all. >> join "mad money"'s training camp weeknights. >> four days left to avoid the fiscal cliff. who will compromise and will a deal get done to rescue the american economy? stay with cnbc for full-time reports to see who will rise above. who will compromise and will a ♪ >> all night i've been talking to you about the new diversification, a way to diversify by strategy, not just sectors so you can thrive in any market. look, we still believe in the old kind of diversification by group, but we've also got a new prism going here. remember, you need a high-yieldner your portfolio, a big dividend-paying stock for downside protection and the massive multi-year gains that come from reinvesting the dividends, and you must reinvest. second, you need a way to profit a whole lot when the market is in good shape. sometimes it is, and still potentially keep delivering gains if things get worse which is why you must have exposure to growth, preferably a high quality secular growth stock where the earnings estimate is a powerful momentum and then a speculative stock, something that trades for le
CNBC
Dec 28, 2012 9:00am EST
of a deal are fading quickly. just two trading days left until the cliff. and it's not just the fiscal cliff. wind farms and dairy are set to get hit. >> the ports of the east coast and gulf coast are bracing for a potential strike. the potential for this, midnight sunday with a shutdown threatening to threaten 20% of the cargo traffic. >> and instagram feeling the sting of the flap around privacy with users, fleeing the site. how will this impact facebook? >> as we mentioned, dennis berman, "wall street journal" market place editor is joining us here on set once again for the next hour. good to have you back, dennis. lots to talk about between the cliff and other news. >> three days before the u.s. goes over the fiscal cliff, congressional leaders will meet with the president this afternoon. i remember standing on the white house north lawn last month, after leaders met with the president back then. things looked pretty promising. here's what they said after that meeting. >> i believe that the framework that i've outlined in our meeting today is consistent with the president's call for a fa
CNBC
Dec 27, 2012 1:00pm EST
on their fiscal cliff nerves. this is the first time since the dow has dipped. a deal has been priced in. a lot of people thought something was going to happen. harry reid said we're probably going over the cliff. check out the wall street fear index. they have spiked above 20 for the first time since july. if this is what we're facing, how much worse can the fall get? jackie laid it all out, right? the average individual will have a lot less money to spend and we are a consumer-driven economy. a lot of action down there on the floor. >> people excited. >> is the market acting in a way that surprises you or down the surprise you based on the fact that it looks like we're going to go over? >> it's not acting in any way i shouldn't think it should, let's put it that way. what was surprising was last week's rally. we knew we were going to come into this. oil is rising. >> there was a lot of coombaya. we're still talking. >> right. >> they're not talking. >> it's a bit like christ mags shoppi -- christmas shopping. they're getting paid to do it. it might be better if we do. if we do go over the cli
CNBC
Dec 28, 2012 4:00am EST
going to have to deal with continued fiscal wrangling' in washington for weeks and weeks and weeks. >> we're going to talk more about the fiscal cliff and later on in the show. just coming back to europe for a second or touching on europe -- >> even more boring. >> because i'm quite looking forward to next year and i'm looking forward to hoping that we're not going to be sitting on politicians the same way we have over the last year, two years, looking at every single line that comes out of therefore mouths. i'm hoping we're going to see march of a sense of normality coming back into the european trades. >> as mohamed el-erian said, it's the new normal. nothing is going to happen next year in all probability. there will be the italian electrics. if berlusconi starts to poll better in a run up to the italian elections, which i think will happen, then you're likely to see bonds markets reacting a little bit to that. that could cause problems in the spanish and italian yield curve. so maybe that would that will trigger mariano rajoy asking for a bailout. anything which happens on the
CNBC
Dec 31, 2012 12:00pm EST
, well, regardless of how the fiscal cliff discussions turn out, bill gross isn't looking for much when it comes to equity returns next year. he is joining us live from pimico headquarters in california. nice to see you, happy new year. >> thank you, scott. same to you. >> stocks and bonds returning less than 5%. unemployment remains 7.5% or higher. why so glum? >> well, you know, with bonds only yielding 1.7%, the 5% or less call is not hard there. i think stocks in 2013 depend on two primary things. one, real economic growth, which was 2% or less. and second of all, the fed. at this point ben bernanke isn't rumplestiltskin. even if this cliff deal is inacted, we'll say good luck in a month with the debt ceiling. in terms of the real economy and stocks, profits importantly have benefited tremendously in recent years from lower interest expense and low growth wage. so at some point the tail winds are going to end. >> you guys were expecting 5% in stocks for 2012, obviously the s&p 500 has done 11.5% heading into today with a whole slew of issues that have been facing us. has that surpri
CNBC
Dec 28, 2012 4:00pm EST
ago with three days to go before we go over that proverbial fiscal cliff. they are meeting with the president and the treasury secretary timothy geithner, and they are trying to hash out a deal. but reports that the president has nothing new on the table has ended up spooking wall street in a big way just in the last hour, and as bill said we finished down near the lows of the day, down about 157 points for the dow. settling up right now. down what, about 165 at the very low, bill? >> i think so, yes. >> and the nasdaq finishing down 25 points and the s&p off by 15, a fifth straight day in the red. well, it is the last friday of 2012. it's in the books. check. still no deal in sight and no new offer either on the table from the president as eamon javers told us a little while ago. what now for the markets? we have our guests and our very own rick sell sebak with us. rick, let me get to you, first of all, because you're here on the set. what now for the markets? >> what now for the markets? it's going to be up or down dramatically which makes it challenging for all investors
CNBC
Dec 28, 2012 12:00pm EST
below 132.16 i'd take it as a signal to sell more. i think we are going over the fiscal cliff and the market thinks so and sometime in the first year things get revolved retro act toiv 2012. the market is accustomed to that and learned to deal with it. >> now you know how our guys are making money but the question is how about you? are you buying treasuries into the cliff? head to futures now.cnbc.com. vote in our poll. make your voice heard ere. scott, back over to you. >> thanks so much. have a good weekend. see you on the other side. only one guy to go to on this. he is the author of "unhedged." >> "unhedged." >> what is the trade here? >> the trade is i don't want to be short treasuries at least in too big a fashion going into the fiscal cliff. but, man, that is going to be -- if they pop that is going to be the last hurrah. i want to get short both hands. >> all right. ahead on "halftime" a round of hold 'em or fold 'em with the year's biggest winners and losers but first we debate whether 2013 will finally give facebook investors gains. one stock two opinions. you know w
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